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UofL constructing buildings to rent out to raise money

The University of Louisville is constructing buildings to rent out to raise money for programs.

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Updated: 1:11 PM EDT Aug 21, 2015

UofL constructing buildings to rent out to raise money

The University of Louisville is constructing buildings to rent out to raise money for programs.

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Updated: 1:11 PM EDT Aug 21, 2015

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WEBVTT NEW AT 12:30 CONSTRUCTING BUILDINGS TO RENT-OUT TO BUSINESSES THAT'S HOW THE , UNIVERSITY OF LOUISVILLE IS GENERATING EXTRA MONEY FOR PROGRAMS. TODAY A PRESS CONFERENCE WAS HELD TO SHARE DETAILS ABOUT IT'S LATEST CONSTRUCTION PROJECT AT THE CORNER OF HURSTBOURNE PARKWAY AND WEAKLEY WAY. WLKY'S ERICA COGHILL WAS THERE, SHE NO DETAILS. ERICA? ERICA: KAREN, THIS IS ONE OF THREE BUILDINGS WITHIN U-OF-L'S SHELBYHURST OFFICE AND RESEARCH PARK PARK THAT'S BEEN CONSTRUCTED FOR RENT TO RAISE MONEY FOR THE UNIVERSITY. I AM TOLD THAT IN ALL THERE ARE ABOUT 12 BUILDINGS ACROSS THE CITY. THIS MORNING, DOZENS OF PEOPLE GATHERED TO CELEBRATE THE LATEST PROJECT WHICH IS SET TO BE , COMPLETED BY MAY 2016. THE BUILDING WILL BE CALLED 500 NORTH HURSTBOURNE. THIS MORNING CREWS PLACED THE LAST MAIN STRUCTURAL BEAM ON TOP OF THE BUILDING. THIS IS WHAT IT WILL LOOK LIKE WHEN FINISHED A DIFFERENT STYLE FROM THE OTHERS HERE WITH GREEN FEATURES. ALREADY, THE UNIVERSITY HAS A TENANT LOCKED-IN MONROE SHINE AND COMPANY, INCORPORATED BUT THERE'S STILL ROOM FOR MORE. THAT REVENUE SERVES AS A BUFFER THROUGH BAD ECONOMIC TIMES WHEN WE WERE IN THE WORST PART OF THE RECESSION, SOME OF THE CRANES YOU SAW IN LOUISVILLE AT THAT TIME WERE UNIV OF LOU WORKING WITH DEVELOPERS THROUGH -- UNIVERSITY OF LOUISVILLE THE FOUNDATION. ERICA: IT WILL COLLECT 51% OF THE EARNINGS. THE OTHER 49% WILL GO TO ITS

UofL constructing buildings to rent out to raise money

The University of Louisville is constructing buildings to rent out to raise money for programs.